By Christian Moess Laursen

Anglo American is suspending hiring globally as it works on a group-wide restructuring announced earlier this week.

The London-based mining major said Thursday that it is putting in place a freeze on recruitment of all non-site-based permanent employees and contractors, confirming a report by Reuters.

"Having set out the results of our strategy review and the changes we will be making to our portfolio, this is an appropriate measure," a spokesperson said, adding that there will be exceptions for critical roles.

The suspension follows a revamp of its portfolio announced Tuesday, intended to boost value and fend off competitor BHP's takeover proposals.

Anglo has rejected two all-share bids from the Australian mining giant over the past month, with the latest valuing Anglo at nearly $43 billion. Given the lack of engagement from the Anglo board, BHP is likely to either walk away or go hostile. It has until May 22 to propose a formal bid under U.K. takeover rules.

Write to Christian Moess Laursen at

(END) Dow Jones Newswires

05-16-24 0510ET